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China Introduces Developments of Service Outsourcing Industry in 2022

Mon, 27 Mar 2023
Categories: China Legal Trends

On 2 Feb 2023, the Department of Service Trade of China’s Ministry of Commerce introduced the development of China’s service outsourcing industry in 2022.

In 2022, the value of service outsourcing contracts undertaken by Chinese enterprises is CNY 2437.1 billion, and the executed contract value is CNY 1651.4 billion, up 14.2% and 10.3% year-on-year respectively.

Among them, the value of offshore service outsourcing contracts is CNY 1,317.7 billion, and the executed contract value is CNY 895.3 billion, a year-on-year increase of 16.7% and 4.1% respectively.

The executed contract value of knowledge process outsourcing (KPO), offshore information technology outsourcing (ITO) and offshore business process outsourcing (BPO) undertaken by Chinese enterprises were respectively CNY 381.9 billion, CNY 367.2 billion and CNY 146.2 billion.

The executed contract value of offshore service outsourcing undertaken by China from the United States, Hong Kong SAR, and EU is CNY 187.8 billion, CNY 171.2 billion and CNY 123.2 billion respectively, accounting for 53.9% of the total executed contract value of offshore service outsourcing undertaken by China.

The total executed contract value of offshore service outsourcing undertaken by China from RCEP member states is CNY 208.9 billion, up 4.2% year-on-year, accounting for 23.3% of the total amount of offshore service outsourcing undertaken by China.

Among them, the executed contract value of offshore service outsourcing undertaken by China from New Zealand and Singapore grew rapidly, rising by 78.8% and 39.0% respectively.

 

 

Cover Photo by Zhenzhi Mao on Unsplash

 

Contributors: CJO Staff Contributors Team

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